Business news in brief: Morton Fraser | Johnston Press

FORMER CBI director-general Sir Richard Lambert is expected to be named as the chairman of a new professional body on banking standards.

Lambert ran the CBI between 2006 and 2011, having served on the Bank of England’s monetary policy committee from 2003 and 2006 and having edited the Financial Times newspaper between 1991 and 2001.

John Cridland, the CBI’s current director-general, said: “Restoring trust in our banking system is absolutely fundamental to the future of the UK economy and I can think of few people better qualified to do this than Richard.”

Partner count hits 42 at Morton Fraser

Morton Fraser has taken its total number of partners to 42 with the promotion of commercial litigation specialist Richard McMeeken.

The Edinburgh-based firm said the promotion of McMeeken, who focuses on commercial contract disputes and insolvencies, follows July’s appointment of two partners.

Chief executive Chris Harte said: “It’s a great testament to the strength in depth in our business generally and our litigation team in particular, that we are able to promote internally with a candidate of Richard’s calibre.”

Study into tourism economic impact

Glasgow Caledonian University’s Moffat Centre for Travel & Tourism Business Development and Professor Hervey Gibson’s Cogentsi consultancy have won a contract to measure the economic impact of tourism at a national and local level.

The results of the work will be used to inform a wide range of organisations, including national tourism marketing agency VisitScotland, local authorities and Scotland’s national parks. The tourism industry employs 185,900 people in Scotland and is worth £4.3 billion.

Johnston Press directors up stakes

SIX non-executive directors at Johnston Press, the Edinburgh-based publisher of The Scotsman and Scotland on Sunday newspapers, have together spent more than £26,000 on shares in the company.

The directors included chairman Ian Russell, who purchased 63,442 shares at 14.5p each to increase his holding to 4.1 million.

Last month, Johnston Press reported its first rise in first-half operating profits for seven years. The improvement was driven by £24.3 million in cost reductions and a strong increase in digital revenues.